What to expect from currency market
Looking on currency market we can suggest that traders are waiting for the new portion of economic statistics from the US in order to understand whether US economy is slowing after the cold Winter or not. After any good news about US economy is published there is a rapid USD increase due to massive USD oversold. We highly emphasize retail statistics which is to be published tomorrow. Growth of 0,2% for the last month is expected compared to -0,4% in the previous one.
If the data is at least not worse than the prediction it will be a massive impulse for USD growth and meanwhile market will continue to consolidate with minor USD increase.
Semen Kamensky